ByteDance, the parent company of TikTok, faces a potential ban on its US operations by January 19, 2025, unless it divests its American assets. The Chinese government is exploring contingency plans, including Elon Musk's potential involvement in TikTok's US ownership, to mitigate the impact of the ban. While ByteDance is appealing the decision to the US Supreme Court, internal sources suggest the justices may side with the US government, upholding the ban.
, the parent company of TikTok, fails to avert a controversial ban the short-video social platform is about to face if it doesn’t divest its US operations by January 19, 2025.Obviously, however, the Chinese leaders would prefer for ByteDance, a China-based private company, to remain as the owner of TikTok. However, things are not all sunshine and rainbows for ByteDance, as the company is challenging the upcoming ban by filing an appeal with the US Supreme Court.
Just in case you didn’t follow the 2024 US presidential election, Elon Musk played a major role in Donald Trump’s election campaign, having poured in over USD250 million to support Trump’s re-election., will be assigned a prominent role in Trump’s presidency, by co-leading a new “Department of Government Efficiency” with former Republican presidential candidate Vivek Ramaswamy, which is interestingly claimed to be a non-government organisation.
Additionally, this will also favour his artificial intelligence research and development company, xAI, thanks to the substantial data volumes generated from the Chinese social media platform.Currently, the Chinese government holds what is known as a “golden share” in a ByteDance affiliate, which gives it authority over the firm’s strategy and operations.
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